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JiaMiYing|Feb 21, 2025 07:39
Yesterday, the prices of Bitcoin (BTC) and Ethereum (ETH) both saw a slight increase. Although the trading volume did not increase significantly, the overall market performance was good, showing a certain upward momentum.
**Bitcoin (BTC) analysis:**
-At present, the price of Bitcoin fluctuates between 93000 and 99000. 93000 is a strong support level, which means that the price may rebound when it falls to this level; 99000 is a strong pressure level, which means that when the price rises to this level, it may encounter resistance.
-If Bitcoin can break through 99000 and stabilize within 24 hours, it may rise to between 102000 and 106000.
-Although there was a $365 million outflow of funds from the US spot Bitcoin ETF yesterday, indicating some institutions are selling, the market may have underestimated the potential for a rebound. Similar volatile market trends in history are often in the preparation stage before breakthroughs.
-* * Strategy * *: You can engage in high sell low buy or grid trading between 91000 and 105000, that is, buy when the price is low and sell when the price is high.
**Ethereum (ETH) analysis:**
-Ethereum also rose slightly yesterday and is currently above its 20 day moving average. It may continue to rebound in the short term.
-However, there are strong pressure levels around 2900 and 3100, and prices may encounter resistance when they rise to these levels. The rebound height may not exceed 2900 or 3100.
-* * Strategy * *: High sell low buy or grid trading can be conducted between 2000 and 3100.
In summary, Bitcoin and Ethereum may fluctuate within a certain range in the short term, making them suitable for high selling and low buying operations within that range.
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